Life Insurance Corporation (LIC) has reduced its exposure in state-owned NMDC to 11.69% from 13.69% earlier through open market transaction. The deal was executed at an average price of Rs 119.37 per share. LIC has...
CCI approves acquisition of 100% equity share capital of L&T IDPL, KTL
The Competition Commission of India (CCI) approved the acquisition of 100 per cent of the equity share capital of L&T Infrastructure Development Projects Limited (L&T IDPL) and Kudgi Transmission Limited (KTL)...
India’s Shriram Finance looking to sell 15% stake in housing arm – sources
Indian shadow lender Shriram Finance is looking to pare as much as 15% stake in its housing finance arm at a valuation of 10 billion rupees ($121.35 million), two senior sources with direct knowledge of the matter told...
Bankruptcy court approves Gail India’s resolution plan for JBF Petrochemicals
India’s bankruptcy court Monday approved Gail Ltd’s resolution plan of Rs 2101 crore for JBF Petrochemicals, in a rare instance of a government-owned entity acquiring a company under the Insolvency and Bankruptcy...
Appasamy owners look to sell controlling stake
Promoters of Appasamy Associates plan to sell a controlling stake in the Chennai-based medical equipment manufacturing company, and are in initial talks with private equity investors, two people aware of the development...
JAL approaches NCLAT against NCLT order on Jaypee Infratech matter
Jaiprakash Associates has approached the insolvency appellate tribunal NCLAT against the NCLT order relating to the distribution of Rs 750 crore in the Jaypee Infrastructure matter. The amount was deposited with the...
NCLAT set aside Nike India’s plea to initiate insolvency against its dealer
The National Company Law Appellate Tribunal (NCLAT) dismissed a petition filed by Nike India to initiate insolvency proceedings against one of its dealers. A two-member NCLAT bench upheld the orders of the National...
Govt’s HZL stake sale only after clarity on proposed global asset transfer; unlikely this fiscal
The sale of the remaining 29.54 per cent government stake in Hindustan Zinc is likely only after a finality reached on Vedanta’s planned sale of global zinc assets to the erstwhile PSU, according to an official...
Hyundai Motor’s India unit to buy plant from General Motors
The Indian arm of Hyundai Motor Co said it had signed a term sheet to buy General Motors Co’s plant in the western state of Maharashtra. The term sheet covers proposed acquisition of land and buildings, certain...
ICICI Bank given time till Sept 2024 to pare stake in ICICI Lombard
The Reserve Bank of India (RBI) has approved private sector lender ICICI Bank’s request seeking extension of time till September 9, 2024 for divesting its shareholding in its general insurance subsidiary, ICICI...
Gautam Adani to sell stake in cement business for $450mn to reduce debt: Report
Gautam Adani, the chairperson of the Adani Group, is planning to sell stake in the cement business for $450 million with aim to reduce debt, reported Financial Times. Adani is looking to sell 4-5 per cent stake in...
InCred Capital acquires 20% stake in HR tech startup TeamNest
Financial services firm InCred Capital said it has acquired 20% stake in TeamNest, an HR SaaS platform which helps businesses manage their payroll and human resources functions. “InCred Capital’s investment...
